residential property

PROPERTY

Matthew Ames, son of troubled overseas property company Harlequin's chairman David Ames, has been accused of running a £1.6m "Ponzi scheme" under the guise of saving the rainforest, a court has heard.

Brooks Macdonald is set to launch an actively-managed UCITS core property fund aiming to achieve yields of up to 5.5% via its new joint venture North Row Capital.

Troubled property firm Brandeaux is to wind up six of its long-suspended property funds following calls from investors wanting to exit the vehicles.

A student accommodation fund listed offshore has become the latest in a string of such vehicles to be suspended after a spate of withdrawals used up its cash reserves.

Embattled property fund house Brandeaux has admitted the net asset value on its suspended £900m Student Accommodation fund is likely to be 4% less than anticipated, while the £92m Ground Rents fund will lose 5% of its NAV.

STUDENT PROPERTY

Student accommodation fund giant Brandeaux has denied its recently-suspended funds are "distressed sellers", and has said there is a £1bn "overhang" of property on the market.

In a week when tapering talk reached fever pitch, one of our best read stories looked at the dollar slump as Fed chief Ben Bernanke said he will hold firm on QE for a while longer.

Investors trapped in property funds suspended by Brandeaux last week have had to wait more than two years, in some cases, to exit the embattled vehicles.